This is the horror scenario we've all found ourselves in at one time or another.
Certainly this pandemic is going have a few more small businesses feeling the squeeze, and going through this very scenario now.
But how does it make you feel?
Perhaps, like me, when you look at the balance and see it in the minus, your stomach knots and it causes your mind, and heart, to race. Did you have sleepless nights wondering how you could change things? You're not alone.
How does it shape the way you approach business?
Does it fire a rocket up your backside?
Does it change what you do, how you talk, how you answer the phone, or respond to emails?
The likelihood is, seeing your balance on the wrong side of zero caused you to change your behaviour, in a positive way.
You were faster to the phone.
Took less time to respond to enquiries.
Made more of an effort to keep on top of your paperwork and admin.
Looked at ways to add value to customer engagements.
Proactively sought referrals rather than leaving it as an afterthought.
The point is, seeing your bank balance in the red caused a chain reaction of positive actions, even if it did accelerate your aging.
Now, the trick is to keep this mentality front of mind and use it as fuel with which to run your business in the same proactive and positive way every day.
Today's small business tip is: Imagine yourself with zero money.
It's a horrible place to be, but it doesn't half get you moving in the right direction again.
For more insightful business tips, keep tuning in.
And of course, if you could use an extra pair of hands to help your business save time and money, just drop me an email.
Best, Sarah